In Busan, a private-public consortium in South Korea announced their intention to build a blockchain-powered medical tourism platform. No deadline for launch is currently set. According to Gyeongnam Ilbo, the initiative will be led by Busan Bank. They are looking to establish the platform within the second largest city of the country in terms of population. The group’s main goal is to strengthen the medical tourism sector. The consortium includes Pusan National University Hospital, Dong-A University Hospital, Gosin University Gospel Hospital, Samyuk Busan Hospital, and payment brokerage company Knet Co. Ltd. Banking services offered through the platform The agreement states …
South Korea’s regulatory sandbox has helped create almost 380 blockchain and other fintech jobs and generated around $110 million in investments. According to Shina Ilbo, the sandbox is overseen by the government's financial regulator, the Financial Services Commission, or FSC. It temporarily exempts companies from various regulations regarding financial services to aid with innovation and growth. The report said that 16 companies have been recognized for their growth potential, and attracted more than 136.4 billion won ($110 million) in new investments. Some of the companies participating in the government-sponsored program are pursuing business across 14 countries in Asia, including Indonesia, …
Two South Korean ministries have announced their support for the blockchain industry in the country with plans to allocate up to $3.2 million in funding to local startups to encourage the use of such technology. The Ministry of Science and ICT (Information and Communications Technology) and the Ministry of Information and Communication Industry Promotion will launch a pilot program called "Blockchain Technology Validation Support in 2020" to carry out the project, according to a March 16 report. The plan is to select nine projects through free public offerings and grant each one up to 450 million won ($360,000) in funding. …
In a bid to transform into a blockchain smart city, Seoul, South Korea is planning to launch its own digital currency by November 2019. To facilitate engagement in the city’s governance As Australian finance-focused media outlet Finder reported on Aug. 7, the South Korean capital is looking to release a native city-wide digital currency dubbed S-coin, the objective of which will be to encourage citizens to participate in governance, facilitate cooperation between citizens and collect information. People will receive S-coins when using public services or fulfill their citizenship obligations such as paying taxes and participating in public surveys. S-coin is …
The Seoul Metropolitan Government has launched the Seoul Blockchain Governance Team to explore the benefits of blockchain in administrative services, Yonhap News reports Jan. 31. According to the report, the members of the team are researching the potential of blockchain applications in various government services, including online voting system. Specifically, the working group intends to address systems of integrated management, digital document verification and automatic sub-contract payment. The team consists of 100 employees between the ages of 21 and 77, including developers, association executives, project makers, corporate representatives as well as students, Yonhap reports. Earlier today, Cointelegraph reported that South …